Effective Economic Policy as the Basis for the Digital Transformation of the Economy and its Transition to a New Technological Way

Aim. To determine the institutional conditions, the formation of which is necessary to overcome the negative factors influencing the development of the Russian economy, including the processes of its digital transformation and the transition to a new technological order, caused by the economic pressure of unfriendly countries, including unprecedented anti-Russian sanctions.

Methodology. The theoretical basis of the study was scientific works carried out in the field of economic theory. In the course of the study, the following scientific methods were applied: comparative analysis, induction, deduction.

Results. The study found that the economy of the Russian Federation is developing under the economic pressure of unfriendly countries, which can have a negative impact on the process of digital transformation of the economy and its subsequent transition to a new technological order. In the prevailing geopolitical conditions, of particular importance for overcoming the existing negative factors is the institutional structure of Russia that meets the requirements of the time. The main importance is given to the political and economic system, as well as the economic theory used to develop the economic policy of the state.

Research implications. On the basis of the study, the political and economic systems are defined as the backbone elements of the institutional structure of Russia. In the political system of Russia, it is proposed to single out two blocks: the state block and the block constituting the Russian society. It has been established that two blocks of the political system represent two opposing groups of interests: public and private. As a theoretical basis of the state economic policy, the necessity of applying the institutional economic theory is substantiated. The results of the study make a certain contribution to the development of the theory of institutionalism.

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